Applying geodemographic analysis to better understand customer profiles and identify target locations for expansion.
“Working alongside Experian has given Bang & Olufsen a real insight into who our customers are, and more importantly, where they reside and how they shop. As this was a new project for Bang & Olufsen it was important that we established one point of contact who could provide consistent communication and support us through the project, Experian were able to provide this through a Senior Business Development Manager. Whilst with every new project there can be stumbling blocks, Experian were able to provide solutions that met our needs and that added value to the end product.”
– Jason Roberts, Regional Development Manager, Bang & Olufsen
Challenge
Focussing on their UK development, Bang & Olufsen set a goal of opening five UK stores per annum, with a frame work set out regarding regions. In order to target specific locations within the UK, Bang & Olufsen required demographic analysis to improve their customer profiles.
Solution
Experian completed a ‘Store Location Analysis project’, with consultancy that provided a detailed understanding of ‘who’ customers were, as well as purchase value, number of products purchased and spend frequency.
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